SOURCE: AisleBuyer


June 13, 2011 13:52 ET

AisleBuyer Raises $7.5 Million in Series E Round

New Funding Contributes to Product Development, Team Expansion

BOSTON, MA--(Marketwire - Jun 13, 2011) - AisleBuyer LLC, the leader in mobile self-checkout and mobile commerce solutions, announced today that it has raised $7.5 million in equity funding. This round of financing comes from AisleBuyer's lead investor Old Willow Partners, LLC, which also provided the company's first round of funding in 2010. Old Willow Partners is a founding investor in Magnitude Networks, Starbelly, Rivenet, InnerWorkings, Echo Global Logistics, Mediabank, Forseva and Groupon.

"With AisleBuyer launching retail brands representing 19,000 store locations this year alone, I'm excited to see the impact on the in-store customer experience," said Rich Heise, Manager of Old Willow Partners. "AisleBuyer is disrupting the retail world through game-changers such as Card Capture, multi-channel checkout and other developments on the horizon."

Following its first round of financing, AisleBuyer announced several new mobile commerce features, including the introduction of multi-channel checkout to its mobile self-checkout app. This addition allows shoppers to order items through a retailer's website while simultaneously purchasing physical items in a store. AisleBuyer also recently announced its Card Capture technology, which allows customers to scan their credit cards instead of manually entering payment information.

"With nearly 60 percent of retailers adopting mobile store associate technology this year alone, it is clear that retailers recognize the importance of mobile in-store technology," said Andrew Paradise, CEO of AisleBuyer. "We are poised to be a leader in the mobile payments industry with the opening of our Palo Alto office, the addition of several key team members and new product features."

The funding will be used for product development, expanding the engineering and sales teams and rolling out new customers across the country.

About AisleBuyer
AisleBuyer is a mobile shopping platform that is revolutionizing the in-store shopping experience. AisleBuyer leverages smartphone technology to unite the best features of both 'bricks' and 'clicks' retailing. Its platform, which includes a virtual shopping assistant, 'location aware' digital circular, and patent-pending, mobile self-checkout system provides retailers with an end-to-end solution designed to increase sales, reduce costs, and offer unprecedented analytical insight into in-store shopping behavior. AisleBuyer is headquartered in Boston, MA.

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